SectorWire
SearchRegister
MenuClose

Six Democratic senators urge CFTC to bar death-linked prediction contracts

Regulation

Six Democratic senators asked the CFTC to clarify whether prediction contracts tied to an individual’s death are prohibited under federal commodities law. They cited national security and insider-trading risks and requested a response by March 9; the letter also asks whether several existing contracts breach current rules.

The CFTC’s interpretation could determine whether prediction-market operators may offer contracts linked to death or physical harm.

Request a correction

Flag an issue

Keep reading

Regulation

Schiff proposes US ban on prediction contracts tied to war and death

Senator Adam Schiff introduced the DEATH BETS Act with Representative Mike Levin, proposing a US ban on contracts involving war, terrorism, assassination or an individual’s death on entities registered with the Commodity Futures Trading Commission. The proposal would replace the CFTC’s discretion to prohibit such contracts with a statutory ban. Schiff said the markets could enable profits from classified information and encourage violence.

Continue reading